Rectitude Ends Unused Bitcoin Facility as Strategy Absorbs Huge Loss

Rectitude Holdings terminated its $32.625 million Bitcoin-linked share facility without issuing shares, receiving cash, or purchasing digital assets, according to its annual report filed on July 30.

The agreement was signed on August 25, 2025, and the company publicly announced the plan. Rectitude ended it on October 9, which is 45 days after signing.

The facility allowed Rectitude to sell shares at a 2.5% discount to a three-day pricing benchmark to Constantinople Limited and Chen Zhiqiang.

Rectitude controlled every draw from the facility, and an unused facility carried no cost. To initiate any purchase obligation, Rectitude needed an effective Form F-1 resale registration and a valid advance notice.